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The price of sugar resumed its downward movement significantly yesterday, approaching the initial target of $19.32. Analysts anticipate a continued bearish trend with potential further declines towards the $18.75 mark.
The bearish outlook remains dominant going forward. A breakthrough above $19.82 could alleviate current downward pressure, potentially triggering a new bullish momentum intraday.
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Today’s anticipated trading range is expected between support at $18.90 and resistance at $19.75.
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Trend Forecast: Bearish
